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CL Verify? Has anyone heard of this CRA?

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PayYouNever
Frequent Contributor

CL Verify? Has anyone heard of this CRA?

I was applying for a PayDay Loan -- in order to avoid being late on a few CCs, and I was rejected because of information reported by CL Verify, has anyone heard of this company?

I'm having them send me a CR, because there could be a host of errors OR worse CAs that I have no idea about.
Message 1 of 5
4 REPLIES 4
buckeye74
Valued Member

Re: CL Verify? Has anyone heard of this CRA?

never heard of them.  maybe it is something that just the payday loan places use.  I would not recommned ever using one of those payday loan places.  they are horrible and their interest is like 300%.
Message 2 of 5
PayYouNever
Frequent Contributor

Re: CL Verify? Has anyone heard of this CRA?

I don't want to use the PayDayLoan, but I can deal with the $45 fee on $250 instead of getting a 30-Day Late on a CC. The affect of the Late Pay will haunt me for a year, whereas the situation forcing me to go to the PayDayLoan will all be handled by the middle of next month.

I'll post whatever info that I can find once i have their CR on me.
Message 3 of 5
Anonymous
Not applicable

Re: CL Verify? Has anyone heard of this CRA?

I believe that payday loan places look at something completely different from your FICO score and credit report. There's a whole other secondary credit system out there, and I think it's the same as what banks use when they are opening checking accounts. So these negatives may have no effect on your FICO score at all. This is just what I've heard from someone who does academic research on the topic, though, so someone please correct me if I'm wrong.
Message 4 of 5
SmartCookie
Valued Contributor

Re: CL Verify? Has anyone heard of this CRA?

Their site says that Chexsystems may (or may not) have also been pulled.  http://www.clverify.com/consumers.html
EQ 787 EX 781 TU 737 11/17/07 *** I am not an attorney. If I was, I might not clip coupons. If you want legal advice, consult an attorney. If you want my personal opinion, feel free to consider my posts***
Message 5 of 5
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